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USD/CHF climbs to fresh 8-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF has continued to push higher over the last sessions, reaching its highest level since March as investors continue to price in a December lift-off by the Fed.

    USD/CHF extended gains and peaked at 1.0085 on Tuesday, just a few pips below its March high. At time of writing, the pair is trading at 1.0077, recording a 0.44% gain on the day.

    The greenback continues to strengthen trading near multi-month highs against major competitors, underpinned by growing expectations the Fed will start raising rates next month. A Reuters poll sees 70% chance of a rate hike following October’s strong nonfarm payrolls report.

    USD/CHF levels to watch

    On the upside, USD/CHF could face next resistances at 1.0089 (Mar 12 high) and then 1.0126 (Mar 12 high). On the downside, supports are seen at 0.9997 (Nov 9 low), 0.9943/41 (Nov 6 low/23.6% Fibo of 0.9475-1.0085) and 0.9920 (Nov 5 low).
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